33x10.5 on 15s or 235/85s on 16s?

I'm looking for some opinions regarding an upcoming tire upgrade for my Tacoma.

Here is the situation:

I purchased this little truck back in January and have been pleased but for the factory gearing. The door jamb sticker did not have a gearing code but rather a single question mark. The online references indicated that trucks with the question mark usually sported 3.91 gear sets. Nope. My truck was "blessed" with 3.58s from the factory. It was a bit of a bitch just tooling about town. I had to slip the clutch quite a bit just to get going and the truck was just not in the 2.7s power band on the highway. We recently had a particularly windy day and the truck could not maintain 5th gear at 70 mph. Long story short, 400$ in junkyard 4.56 geared differentials later, this little truck is a beast! Now I just need some tires to balance out the gears.

The truck had a brand new set of Cooper AT3s in 235/75/15 mounted on some old 15x8 MB Blitz/Discount Tire wheels. The wheels have 3.75 inches of backspacing and stick out a bit.

Here is where the situation gets a bit tricky: My other truck, a 1995 Ranger, needs tires. I've got a deal worked out with my dad who is currently using it for his job. He is reimbursed for his mileage and has managed to put 500 dollars worth of mileage on the ranger in the span of a month. He is welcome to put as many miles on the ranger as he likes, keeping miles off his truck, provided we split the mileage. The plan is to put the Coopers on the Ranger and upgrade my Tacoma with something a bit larger.

I'm considering keeping the current wheels and putting 33x10.5x15 BFG KO2s or I may go to a set of 16 inch factory steelies with more backspacing and equipping some 235/85/16s.

If I keep the current wheels and put on 33x10.5s, there is a risk I will not be able to replace a wheel if I break one. 15 inch alloys are very uncommon for Tacomas. I will also need to lift the truck as it may not fit 33s on the current stock suspension.

If I go steelies/235/85 - It would certainly open the door for a brake upgrade, have more tire choices and be a bit more durable vs alloy wheels on C rated tires.

What would you folk do?